Additional Information


Content

Google could float today following share price cut

NEW YORK - Google could float as early as today after the company's founders were forced to reduce the offer share price, pushing it below $100 (£55), far below original estimates.

Share this article

After cutting the share price, Google has now sold 19.6m shares at $85 each, and is expected to debut on the Nasdaq today.

This means the flotation of the online search company has raised $1.67bn, compared with the $3.8bn originally touted. This will value Google as a whole at $23.1bn.

The price has been cut in response to market jitters. Sergey Brin and Larry Page, Google's founders, have conducted the flotation process using unorthodox methods, such as giving an interview to Playboy.

This flouted the rules of the US Securities and Exchange Commission, which asked for additional information about the interview.

Nonetheless, Brin and Page still stand to become billionaires when the stock finally floats.

If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the Forum here.

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Additional Information

Latest jobs Jobs web feed

FROM THE BLOGS

The Wall blogs

We need new news External website

by Grace Regan, 22/10/2014

 

5 tips for a cross-device Christmas External website

by Nimeshh Patel, 22/10/2014

 

Nice one. External website

by Andy Nairn, 21/10/2014

 

Back to top ^